International Automotive Components (IAC) has appointed CFO, David Prystash as the next CEO and a member of the company's board of directors, effective 1 January, 2021. 

Manfred Gingl will remain CEO through the remainder of the year and will continue to serve as executive chairman of the board of directors after the transition. 

Vice president, finance, Kevin Graham, will become CFO. Gingl, Prystash and Graham will work together during the next two months to ensure the leadership transition.

"With David at the helm, our leadership team bench is well positioned to continue the positive momentum IAC has seen over the last year," said Gingl. "David has a proven track record at IAC and extensive experience running businesses globally.

"David has been pivotal in the company's turnaround and in ensuring customers view us as a preferred partner.

Prior to joining IAC in November, 2018, Prystash held leadership positions at General Motors, including VP and CFO of global product development, purchasing and supply chain where he was instrumental in negotiating the sale of Opel/Vauxhall to PSA and achieving US$6.5bn in cost reductions in a four-year period.

Prior to that, he worked with GM as CFO of global manufacturing and labour relations.

Before joining GM, he also held executive leadership roles including CEO and CFO outside the auto industry following a 24-year career at Ford, where he held various senior financial and operational posts including assignments in Asia and South America.